Bitcoin price soared more than 4% to hit an intraday high of $109,800 as traders rushed to buy BTC after multiple bullish signals. In their Bitcoin price prediction, veteran trader Peter Brandt and other top analysts have confirmed a massive upcoming rally and price target for BTC.
Bitcoin Price Prediction: Peter Brandt, Analysts Eye $135K
In an X post on July 3, veteran trader Peter Brand shared an inverse Bitcoin price chart in the daily timeframe, nearly giving a heart attack to investors. He said, “Is this bear flag?”
However, he was actually bullposting about a bull flag pattern formation in the daily BTC chart. The bullish pattern confirms an upcoming rally in Bitcoin price to hit a new all-time high. As usual, he didn’t give his price target, but the chart showed value up to $140,000.
Top analyst Markus Thielen, founder of 10x Research, sets $135K as the target in the latest Bitcoin price prediction, noting the bull flag pattern breakout. He pointed out that Bitcoin ETF flows remain strong, crypto exchange balances are shrinking, and political pressure on the Fed to cut rates is intensifying.
He highlighted another attempt by BTC to break above the critical $110,000 level following bullish setups in December, January, May, and June.
“With July’s historically bullish seasonality in full swing and the next labor market data point just hours away, the setup couldn’t be more critical,” said Markus Thielen.
Recently, Matrixport predicted Bitcoin price to hit a new high and reach at least $116,000 in July. The prediction was based on Bitcoin’s history of making on average 9.1% gains in July in seven out of 10 years.
Top analysts, including Titan of Crypto, shared a $137K Bitcoin price target based on the bull flag pattern breakout. He also signaled a bullish MACD crossover in the daily timeframe, supporting the rally.
BTC Price Action in Spot and Derivatives Markets
BTC price jumped 4% in the past 24 hours, with the price currently trading at $109,163. The 24-hour low and high are $106,155 and $109,763, respectively. Furthermore, the trading volume has increased further by 22% in the last 24 hours, which indicates a rise in interest among traders.
CoinGlass data showed massive buying in the derivatives market. At the time of writing, the total BTC futures open interest jumped 8% to $74.94 billion in the last 24 hours. BTC futures OI on CME and Binance climbed more than 3% and 7%, respectively. This signals bullish sentiment among derivatives traders.
Also Read: Bitcoin Price Nears Cup-And-Handle Pattern Breakout For New ATH
